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Markets

Salik 9M net profit $223m

The company's third-quarter profit increased by 8.8 percent.

Avia to buy 40 Boeing aircraft

The transaction for the purchase of 737 MAX 8 jets valued at $4.9bn.

Emirates half-year profit $2.5bn

The record profit is subject to new 9% corporate tax for the first time.

Lulu’s IPO raises $1.72bn

The proceeds make it the largest UAE IPO of 2024 to date.

DAE 9M net profit $310m

The company said this was a 54.9 percent YoY increase in net profit.

Maisarah leads Oman government’s successful sukuk issuance

MUSCAT, OMAN - Maisarah Islamic Banking Services, Islamic window of BankDhofar, acted as an Issue Manager for the Sovereign Sukuk...

Business

GCC equity markets record first gain in four months

The GCC equity market index rebounded notably in November 2023, with the MSCI GCC index rising 5.2%, led by Qatar...

Business
Business

Saudi and UAE stock markets rebound

The Saudi and UAE bourses saw quite some ups and downs in the week that began on Sunday, October 10.
  • The Saudi index started the week dropping 0.2 percent and closed the week increasing 0.64 percent
  • Financial-sector stocks helped Dubai and Abu Dhabi indices end the week up 0.01 percent and 0.33 percent, respectively
Economy

SEDCO Capital, Lombard Odier launch Shariah-compliant fund

The Fund's composition reflects a convergence of SEDCO Capital's Prudent Ethical Investment (PEI) approach with Lombard Odier's investment expertise
  • The Fund's composition reflects a convergence of SEDCO Capital's Prudent Ethical Investment (PEI) approach with Lombard Odier's investment expertise
  • The Fund aims to deliver capital growth through an active asset allocation strategy with the goal of outperforming the Dow Jones Islamic Market World Developed Total Return Index
Research

Semiconductor shortage slows down GCC auto sector

Auto exports to the region are likely to suffer for the next more than a year due to an estimated...
  • Toyota Middle East has pledged it would do its best to avoid inconvenience to customers waiting for delivery of vehicles.
  • On an average, a car needs around 1400 chips. Electric vehicles utilize even more.

Bahrain Bourse taps Oxford Business Group for ESG reports

OBG research is expected to analyze the steps that publicly listed companies are taking to adopt and fully embrace ESG...
Business

Natural Gas Distribution all set to list and trade on Nomu

The listing and trading of shares of Natural Gas Distribution on Nomu will start on September 22, as a direct...
  • Daily price fluctuation limits will be +/- 30 percent and static price fluctuation limits will be  +/- 10 percent
  • The trading of shares will begin on September 22
Business

Boursa Kuwait suspends 10 companies from trading

The reasons behind the penalty included not declaring quarterly financials, and not paying their annual subscription fees.
  • Boursa Kuwait listed seven reasons why the companies had been suspended from trading
  • Some companies have been penalized for multiple reasons
Business

Adnoc Drilling sets IPO share price

The initial price is set at AED2.30 (around $0.63) per share.
  • The subscription period for the Adnoc Drilling IPO will close on September 23 for UAE retail investors
  • It will close on September 26 for qualified domestic and international institutional investors
Analysis

GCC insurance firms battle pandemic woes

It has been a roller coaster ride for insurance companies in the GCC countries and the health care sector since...
  • Experts see up to 40 percent rise in premiums in the next two to three years.
  • Abu Dhabi-based Daman Insurance looking at new markets such as Kuwait and Bahrain.
Business

Dubai property sales hit four-year high in August

The figures indicate that the property market, particularly the residential market, is recovering after hitting a low at the start...
  • A total of 37,537 sales transactions worth 88.12 billion dirhams were made by August end, which is 22.61 percent higher than the value of deals made in 2020.
  • The entire year of 2020 had 35,401 sales transactions worth 71.87 billion dirhams.
Investigation

MENA firms: The public-private games go on

Two key Dubai firms — Dubai parks operator DXB Entertainments and Dubai ports operator DP World — have de-listed from...
  • Companies in MENA region, once enticed by the prospect of growth, looked to be listed on global exchanges
  • However, mandates like following transparency norms are putting them off even further

Maisarah leads Oman government’s successful sukuk issuance

MUSCAT, OMAN - Maisarah Islamic Banking Services, Islamic window of BankDhofar, acted as an Issue Manager for the Sovereign Sukuk...
Business

Company News

Latest News

More monetary tightening required, says top Federal Reserve official

The US should continue tightening monetary policy to bring down inflation while assessing the impact of last month's financial turmoil...
Economy

Stocks jump, dollar falls as Federal Reserve seen curbing rate rises soon

Equity markets rose, with Paris hitting a record-high, as investors reacted positively to easing inflation, recession concerns and some strong...
Market Report

DEWA approves payment of US$1.29bn in dividend to shareholders

DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) which is listed on the Dubai Financial Market (DFM) on Monday...
Business

Most Read

Opinion

Markets get affected as financial turmoil resurfaces

Crude oil has been challenged by the continued loss of risk appetite. The banking crisis has particularly impacted the energy...
  • The collapse of Silicon Valley Bank and troubles at Credit Suisse sparked turbulent trading activity, particularly in the bond market
  • Gold and silver have benefited from a 3.5% drop in the dollar and a 110bps collapse in the two-year US government bond yield
Market Report

Saudi Arabia’s TASI ends the week higher while UAE markets fall

Several factors contributed to the fall in UAE markets, including a decline in oil prices, worries about multinational banks' health.
  • The primary index of the Abu Dhabi Securities Exchange fell by 0.5 percent, while the Dubai market's main index dropped by 0.9 percent.
  • In Dubai, losses in the industrial and financial services sectors led to a 0.5 percent drop in the main index on Monday.
Business

Abu Dhabi Securities Exchange appoints Emirates NBD Capital as custodian

ABU DHABI, UAE - Abu Dhabi Securities Exchange (ADX) has appointed Emirates NBD Capital as a custodian. Emirates NBD Capital...
  • Emirates NBD Capital obtained its custody licence from the UAE Securities and Commodities Authority.
  • The firm provides safe and secure solutions for investors to hold securities, such as stocks, bonds or other assets.